SunSirs: This Week, the Propane Market Weakly Declined (December 11-15)
December 19 2023 15:16:17 SunSirs (John)
Price trend
This week, the domestic Shandong propane market experienced a volatile decline. According to the commodity market analysis system of SunSirs, the average price of propane in Shandong Province was 5,545 RMB/ton on December 11th, and 5,520 RMB/ton on December 15th. The weekly decline was 0.45%, a decrease of 0.89% compared to the same period last year.
Analysis review
This week (12.11-12.15), the propane market in Shandong experienced a weak downward trend and a sluggish market atmosphere. Due to the recent sluggish trend of propane, upstream inventory pressure had increased, leading to price reductions and inventory clearance. In the atmosphere of downstream buying up but not falling, demand growth was limited, and prices continued to decline.
Saudi Aramco announced its November CP, with propane at 610 US dollars per ton, an increase of 10 US dollars per ton compared to the previous month; Butane was 620 US dollars per ton, an increase of 5 US dollars per ton compared to the previous month.
Market outlook
Overall, the northern market was affected by heavy snowfall, with some areas experiencing poor transportation, further suppressing demand. It is expected that the possibility of a downturn in the propane market consolidation will increase.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
- 2024-04-30 SunSirs: The Propane Market Saw a Slight Increase in April
- 2024-04-23 SunSirs: The Propane Market Saw a Slight Increase This Week (April 15-19)
- 2024-04-15 SunSirs: The Propane Market Saw a Slight Increase This Week (April 8-12)
- 2024-04-08 SunSirs: High Inventory, Propane Was Falling under Pressure
- 2024-04-01 SunSirs: The Propane Market Was Weakly Declined in March
